Before going on any journey it really helps to know where you want to go and more importantly why you want to go there.  A good strategy is exactly this, simple and clear in its messages , communicating the choices you have made and why you have made them.
Staring with the business outcomes you want to achieve, we work through the 5 key components that make up a business strategy.  I my experience most of the key strategy parts are know but frequently exist but often with a few gaps or contain components that are out of date.